CE&M Seminar (Hyoungkwan Kim)

Start Date: 
Monday, April 9, 2012 - 4:00pm to 5:00pm
Presenter: 
Hyoungkwan Kim

Determining the Value of Governmental Subsidies for the Installation of Clean Energy Systems Using the Real Option

Presented by Dr. Hyoungkwan Kim
Associate Professor School of Civil and Environmental Engineering
Yonsei University, Korea
 

Monday, April 9, 2012 at 4:00PM
CEE Conference Room ~ 2355 GG Brown
 

Abstract:

Limiting greenhouse gas emissions has continually gained importance, since the Kyoto protocol became effective in 2005. A variety of efforts have been made to reduce energy consumption and introduce supposedly clean and renewable energy that can replace fossil-fuel-based energy sources. However, many clean energy sources are not economically viable by themselves, and, therefore, government subsidies are necessary to provide sufficient economic motivation for the installation of new types of energy. For that reason, it is necessary to develop a method for reasonably and accurately determining an appropriate level of government subsidy for private entities. This study proposes a real option-based framework for rationally quantifying the amount of government subsidy required by private entities in order to implement a clean energy generation system. A case study which involved the installation of a photovoltaic system in an average household in Seoul, Korea, was conducted in order to verify the proposed framework. The framework is expected to help energy policymakers choose the proper level of government subsidy that will effectively encourage private entities to install clean energy systems without wasting taxpayers’ money.

Bio:

Hyoungkwan Kim received the B.S. and the M.S. degrees from Yonsei University, Seoul, Korea, and the Ph.D. degree in construction engineering and project management from the University of Texas at Austin. He is an Associate Professor of School of Civil and Environmental Engineering at Yonsei University, Korea. He was an Assistant Professor at the University of Alberta, Canada, before joining Yonsei University. He has significant research, education, and industry experiences in construction project management. He is the author or coauthor of more than 40 scholarly journal publications in the area of project management, infrastructure management, construction automation, construction information management, and sustainable construction. His publications appear in Journal of Construction Engineering and Management, Journal of Computing in Civil Engineering, Transportation Research Record, Computer-Aided Civil and Infrastructure Engineering, Automation in Construction, Canadian Journal of Civil Engineering, KSCE Journal of Civil Engineering, Geotechnical Testing Journal, IEEE Transactions on Engineering Management, Expert Systems With Application, and Journal of Management in Engineering. He is currently an Associate Editor for Journal of Computing in Civil Engineering, American Society of Civil Engineers (ASCE), and a member of the Board of Directors of the International Association for Automation and Robotics in Construction (IAARC). He is also registered professional engineer (P.Eng.) of the Association of Professional Engineers, Geologists, and Geophysicists of Alberta (APEGGA) in Canada.

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